Tuesday, March 27, 2012

Correction time?

Since my last post as of February 29th SPX added around 30+ points which can be classified at dead calm in any trader’s book, but now market is nearing what might be correctional wave 4 of wave up daily. I am setting my stops at –10 SPX points and will be looking for re-entry on the long side later on (few weeks at least). Meanwhile I might be trading small positions on downside, but wave 4 is notoriously famous for being difficult to trade, so I might just take it easy … if it is possible to take it any easier :)




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